Hotel Online Special Report 
Harveys Casino Resorts Offers $25 per Share for Pinnacle Entertainment, Inc, Formerly Hollywood Park, Inc. GLENDALE, Calif., March 8, 2000 – Pinnacle Entertainment, Inc. (NYSE: PNK) (formerly known as Hollywood Park, Inc.) announced today that it had received a proposal pursuant to which Harveys Casino Resorts would acquire all of the outstanding shares of common stock of Pinnacle Entertainment for cash at $25 per fully diluted share. The proposal is subject to, among other things, the execution of a definitive agreement containing the customary terms and conditions, including regulatory approval, and the agreement of Pinnacle Entertainment’s senior management to retain an equity interest in the combined company. Pinnacle Entertainment’s board of directors, excluding management members, will be evaluating the proposal and has agreed to negotiate on an exclusive basis through the end of March 2000.
Harveys Casino Resorts is majority owned by Colony Capital, a private investment firm.
In connection with the above announcement, the Company has postponed its upcoming shareholders meeting previously announced for April 18, 2000. The Company anticipates it will set a new date for the shareholders meeting in the next few weeks.
Pinnacle Entertainment is a diversified gaming company that owns and operates eight casinos (four with hotels) in Nevada, Mississippi, Louisiana and Argentina, two of which are the subject of pending sale transaction. Pinnacle Entertainment receives lease income from two card club casinos, both in the Los Angeles metropolitan area; and owns and operates the Turf Paradise horse racing facility in Arizona that is the subject of a pending sale transaction. The company is also constructing the Belterra Resort and Casino, a major hotel/casino complex in Southern Indiana, approximately 35 miles southwest of Cincinnati.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements.
Contact: R.D. Hubbard, Chairman CEO, 949-752-4840, Paul Alanis, President COO, 818-662-5900, both of Pinnacle Entertainment; Also See: Harveys Casino Resorts Announces Shareholder Approval of Merger With Colony Capital, Inc. / May 1998 Harveys Casino Resorts Acquiring Lease on Bluffs Run Casino and Greyhound Track in Iowa / Sept 1999 Hollywood Park, Inc. Receives Indiana Gaming License for Casino/Hotel on Ohio River. Will build $150 Million Dollar Resort/Casino / Sept 1998